Why Do You Need Risk Management in Agriculture?

Why Do You Need Risk Management in Agriculture?

Agriculture is, without a doubt, an industry riddled with risk and uncertainty. Farmers across Canada are left to the mercy of Mother Nature, the global marketplace, a limited labour force, changing consumer trends, and other factors beyond their control in the political sphere. For farm managers, uncertainty can lead to poor planning and decision-making to the detriment of the farm, their families and the agricultural sector as a whole. But, with risk, also comes opportunity for those who are positioned to take calculated risks. This is why it's important to plan for risk.

Risk management is about thinking strategically in advance and applying a process by which uncertainty can be reduced. Understanding how to manage or mitigate risk can be difficult, but there are options that can help.

In this seminar we will discuss tried and true approaches to risk management, sources of support and tools for risk management, and real-life examples of risk management from a farmer’s perspective.

- Ontario Fruit and Vegetable Convention